Investors File Disputes About Broker Todd Ellentuck (Aegis, UBS)

The Financial Industry Regulatory Authority (“FINRA”) reports serious information about a securities broker by the name of Todd Michael Ellentuck (CRD#: 1321452, Morristown, New Jersey). Mainly, at least three investors disputed Ellentuck’s sales practices. In addition, UBS Financial Services Inc. disaffiliated with Ellentuck due to unauthorized trading allegations. Here are some key details about these disclosures.

Aegis Capital Corp Client Indicates That Todd Ellentuck Breached Fiduciary Duty

Evidently, Todd Ellentuck worked as a securities broker of Aegis Capital Corp from December 2016 to October 2018. Notably, in June 2020, an Aegis Capital Corp client pursued a FINRA Arbitration Claim in regard to Ellentuck. Specifically, the client alleged that Ellentuck breached a fiduciary duty with respect to private placements. Not only that, but the Arbitration Claim also contains allegations of negligence and breach of contract. For this reason, the client demands $420,000.00 in damages in this ongoing matter.

UBS Financial Services Client Indicates That Ellentuck Did Not Disclose Risks Adequately

Apparently, Todd Ellentuck worked for UBS Financial Services from March 2012 to November 2016. It appears that a client of UBS Financial Services disputed his sales practices. In this July 2017 lawsuit, the client first claimed that Ellentuck did not adequately detail risks about structured products. Secondly, Ellentuck supposedly made unauthorized trades. Thirdly, the client contended that the broker provided unsuitable investment recommendations. Finally, the broker purportedly charged excessive fees and commissions. It appears that this client received a $90,000 payment from UBS to settle this matter in September 2018.

UBS Disaffiliates With Todd Ellentuck

Notably, UBS Financial Services parted ways with Todd Ellentuck over allegations of trading mishaps. Supposedly, Ellentuck violated UBS’s order entry policy because he did not make trades when he received them. Also, the securities firm mentioned that Ellentuck purportedly made trades without first getting client authorization. Finally, Ellentuck allegedly improperly obtained both commissions and sales credits for certain securities transactions.

Did You Suffer Damages By Investing Through Ellentuck?

Did you experience losses because of broker Todd Ellentuck? If so, call Soreide Law Group at (888) 760-6552 and speak with a skilled securities lawyer about a potential recovery of your losses. Soreide Law Group represents clients on a contingency fee basis and advances all costs. The firm has recovered millions of dollars for investors who have incurred losses because of their financial advisors and securities brokers. Please note that Ellentuck denies all allegations of his sales practice violations.